A 56 year old man has been arrested on suspicion of illegal money lending following an operation by the England Illegal Money Lending Team, in Birmingham this morning
The Team, who are hosted by Birmingham City Council executed a warrant at a residential property in Weoley Castle seizing documents and other evidence of illegal money lending.
The suspect is currently in custody being questioned by officers from the team.
Jacqui Kennedy Director of Regulation and Enforcement said “Illegal money lending is a crime which causes misery and harm in our communities. The lenders may appear friendly at first but they are not offering a service and will cause nothing but misery and harm. The England Illegal Money Lending Team are continuing to crack down on offenders and I would urge anyone who is the victim of an illegal money lender to contact the them in confidence on 0300 555 2222”
Nationally the Stop Loan Shark Project has secured over 200 prosecutions for illegal money lending and related activity, leading to 130 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 18,000 victims.
To report a loan shark:
Call the 24/7 confidential hotline 0300 555 2222
Text 'loan shark + your message' to 60003
Log-on to www.direct.gov.uk/stoploansharks
Find us on Facebook www.facebook.com/stoploansharksproject
For more information please contact Simon Houltby 0121 303 3503
Note to editors: Funded by the Department of Business Innovation and Skills, the Stop Loan Sharks project consists of three Illegal money lending teams; England, Scotland and Wales. Working in partnership with local Trading Standards Authorities up and down the country, the England Team consists of specialist officers who investigate and prosecute illegal money lending and related activity and LIAISE officers who support victims and raise awareness of the dangers of borrowing from illegal money lenders. The project piloted in 2004, and expanded in 2007. So far the project has secured more than 200 prosecutions leading to custodial sentences in excess of 130 years